View Information Collection Request (ICR) Package
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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
3235-0701
ICR Reference No:
202205-3235-003
Status:
Active
Previous ICR Reference No:
201907-3235-015
Agency/Subagency:
SEC
Agency Tracking No:
TM-270-649
Title:
Rule 18a-1 Net Capital Requirements For Security-Based Swap Dealers For Which There Is Not a Prudential Regulator
Type of Information Collection:
Extension without change of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
11/03/2022
Retrieve Notice of Action (NOA)
Date Received in OIRA:
09/15/2022
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
11/30/2025
36 Months From Approved
11/30/2022
Responses
520
0
640
Time Burden (Hours)
21,024
0
26,545
Cost Burden (Dollars)
2,598,500
0
13,475,000
Abstract:
Rule 18a-1 establishes net capital standards and requirements for nonbank firms not subject to Rule 15c3-1 and required to register with the SEC under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 as security-based swap dealers. Net capital standards ensure that firms maintain sufficient liquid assets to meet all customer obligations.
Authorizing Statute(s):
US Code:
15 USC 78a et seq.
Name of Law: Securities Exchange Act of 1934
PL:
Pub.L. 111 - 203 763 & 764
Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
Citations for New Statutory Requirements:
PL: Pub.L. 111 - 203 763-764 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
87 FR 41152
07/11/2022
30-day Notice:
Federal Register Citation:
Citation Date:
87 FR 56734
09/15/2022
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
6
IC Title
Form No.
Form Name
18a-1(c) Industry Sector Classification
18a-1(g) Risk Management Control System
Rule 18a-1 - Subordinated Loan Agreements
Rule 18a-1(a) VaR Models - Ongoing Burden
Rule 18a-1(c) - Account Control Agreement
Rule 18a-1(c) - Account Control Agreement Legal Analysis
Rule 18a-1(c) - Account Control Agreement Legal Analysis
Rule 18a-1(c) Account Control Agreement Opinion of Counsel
Rule 18a-1(d) (VaR Models)
Rule 18a-1(h) Commission Notices
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
520
640
0
0
-120
0
Annual Time Burden (Hours)
21,024
26,545
0
0
-5,521
0
Annual Cost Burden (Dollars)
2,598,500
13,475,000
0
0
-10,876,500
0
Burden increases because of Program Change due to Agency Discretion:
No
Burden Increase Due to:
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
The changes in burden are due to the fact we do not expect any new stand-alone SBSDs in the next three years (so there are no initial burdens) and because in 2019 we overestimated, by one, the number of stand-alone SBSDs (so the ongoing burden is reduced). .
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Does this ICR request any personally identifiable information (see
OMB Circular No. A-130
for an explanation of this term)? Please consult with your agency's privacy program when making this determination.
No
Does this ICR include a form that requires a Privacy Act Statement (see
5 U.S.C. §552a(e)(3)
)? Please consult with your agency's privacy program when making this determination.
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
Yes
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
No
Agency Contact:
Rose Wells 202 942-0143
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
09/15/2022
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